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But our challenges go beyond that. Even if we had solved all the above-mentioned problems for the 300 million people, we still have several hundred million of farmers who will move to cities in the coming years. This will be difficult to accomplish without over ten years or even longer and the tasks will only be more difficult on our way ahead. For any country to complete industrialization, it has to achieve agricultural modernization, raise agricultural productivity and, on normal cases, keep the percentage of agricultural population low. China will not be an exception. To have so many people move to live and work in cities in an orderly manner will be a long process. That is why we say that China will not be able to become a medium-level developed country and achieve modernization until the middle of the century.

For her part, Vestager said that although Denmark and China have differences, both countries are faced with common challenges in their economic and social development, so they should strengthen exchange of experience.

Representatives from the CEE countries expressed optimism about China's economic prospect and their willingness to enhance cooperation with China to look for more development opportunities.

China has rolled out an array of favorable measures for small firms to help them weather the economic slowdown, including tax breaks, reduced administrative fees and relaxed market access. Policy makers have also hoped that small firms will invigorate China's ongoing reform efforts.

Egypt's presidential election commission on Tuesday officially announced ex-military chief Abdel- Fattah al-Sisi to be the new president of the most populous Arab state.